Blocknet is a project attempting to create a peer-to-peer protocol between nodes on the blockchains of participating cryptocurrencies. Blocknet was initiated by XCurrency (XC), but it was later extended by several other cryptocurrency projects all of whom have representation on the Blocknet Foundation's Board. This groundbreaking initiative enables open-ended communication and delivery of services between users of participating cryptocurrencies, thus effectively uniting the community that has been fractured by hundreds of cryptocurrency projects. To maintain Blocknet's network and services, the project issues its own "tokens of value" as a reward to those who participate in maintaining a healthy network. This makes Blocknet (BLOCK) a proof-of-stake cryptocurrency which is actively traded on a number of popular altcoin exchanges. Original announcement.

Source: CryptoID.info. *"Block Height" refers to the total number of completed blocks in the blockchain, while "Difficulty" represents the number of attempts required to find the correct solution and to complete a block of transactions.